Ouyang Qianli on Crowdfunding: My Wife Deserves the Credit

There is much talk about crowdfunding online, with large sums involved, but I prefer to trust stories from my own circle. I'd like to share my experience and insights.

I was deeply involved in Kaoshang Liquor, which went from having no brand, channels, or consumers to selling 300,000 bottles in a year.

On August 20, 2015, I started a venture with my wife Xiaoyu, creating Crystal Gourd Wine (a fine liquor unavailable in stores).

Ouyang Qianli: My Wife Xiaoyu

On the evening of August 29, under the name "Crystal Gourd Wine Seeking Godparents," we launched an offline equity crowdfunding campaign: 5,000 yuan per share, with a cap of 10 shares per person, targeting media professionals, distributors, consulting agencies, and baijiu consumers. By September 5, we had raised 340,000 yuan from 29 participants, with a crowdfunding period of 45 days. On September 6, we launched an online crowdfunding campaign on Zhongchou.com with a target of 99,000 yuan over 15 days. By September 20, it exceeded 210,000 yuan, and to date, total sales have reached 400,000 yuan.

Langjiu Langge and Jugang Zhongjiu both declared their crowdfunding successful, and Crystal Gourd Wine has also exceeded its crowdfunding target. Successful cases often share similarities. Comparing these three crowdfunding examples, it's clear that these products had a "certain victory" preparation from the start. Victory requires not only belief and determination but also sufficient traffic prepared for the online product crowdfunding.

Traffic, effective traffic, is the winning formula in the e-commerce world. The question arises: where does traffic come from, and how to improve conversion rates? Based on my experience, traffic comes from media, offline events, communities, SNS, and crowdfunding platforms. Successful online product crowdfunding often weighs traffic sources based on their own circumstances to expose the product to more audiences.

Let me discuss a few cases I've studied, focusing on my own, and apologize to Jugang and Yi Mingliang for any shortcomings in my analysis.

Langjiu Langge's main traffic source was launch events across various cities.

Looking at Yi Mingliang's WeChat Moments, on March 11, 2015, a preliminary design draft of Langjiu was revealed, "Show your face, designed by Wang Yu." Since then, industry media began to hype the upcoming "Langge" from various angles. Until the spring sugar and wine fair, Langjiu Langge didn't gain much momentum, and it wasn't until July 11 that the product was officially launched globally.

In the following days, tasting events were held in nearly 50 cities including Duyun, Luxian, and Gulin, accompanied by recruitment, distribution, and consumer engagement. Until August 22, a micro-film titled "We" was used to launch an 18-day product crowdfunding on JD.com. Even during the crowdfunding period, Langjiu Langge's tasting events continued in Changzhou, Liyang, Hefei, and Xindu, continuously contributing precise traffic to the online crowdfunding, laying the foundation for sustained success on JD.com.

This is the operational model of large liquor companies, far from us. Now let's talk about personal crowdfunding.

Perhaps you can learn from it to help with your own transformation.

Jugang Zhongjiu's main traffic source was the Weixun community from two crowdfunding rounds.

From the first sight of Jugang Zhongjiu, it's not just a yellow wine; it's a lifestyle and attitude. From the bottle design to the copy, it makes those who like it order immediately. Early promotion relied mainly on WeChat Moments to find "like-minded" people, at least those with similar tastes. From the first to the second round of crowdfunding, using the product as a medium, they found the people behind it through the internet, establishing the "Weixun Hui" community themed around yellow wine, including e-commerce expert Miao Chun, liquor industry expert Zhao Yu, and many cross-industry experts.

This "small and elegant" group shares similar tastes. Once they regularly organize gatherings around the theme of "yellow wine," the cohesion leads to word-of-mouth, which extends to purchasing power. Of course, Jugang Zhongjiu's "appearance" is very high, especially the third season "Jingua Gong." When the bottle's allure is maximized, success is within reach.

I believe everyone should be familiar with Jugang Zhongjiu's yellow wine. Now let's talk about the approach of the Ouyang couple.

Crystal Gourd Wine's main traffic source was the shareholder platform built through offline crowdfunding.

Crystal Gourd Wine made its debut at the Qilu Lunjiu forum on August 29, leveraging over 30 Weibo influencers to spread the message "Jingzhi's first internet crowdfunded baijiu, Crystal Gourd, seeking godparents" through Hudongba. By September 4, based on registrations, 39 initial offline crowdfunding shareholders were confirmed, raising 335,000 yuan in project funds.

On September 6, an online product crowdfunding was launched on Zhongchou.com for 15 days, leveraging the resources of the 39 individuals and the initiators for precise traffic from WeChat communities and Moments, then using platforms like Weibo and QQ for further traffic. At the same time, "crowdfunding insights," "product tasting," and "new product recruitment" forms continuously injected precise traffic into the online crowdfunding. Notably, Ouyang Qianli's pinned product Weibo post reached 380,000 reads, and the Zhongchou.com link was shared over a thousand times in Moments. With such traffic, Crystal Gourd Wine's online crowdfunding target is about to exceed 200%.

The key to successful online product crowdfunding lies in importing "precise traffic" from outside the platform. The traffic methods of Langjiu Langge, Jugang Zhongjiu, and Crystal Gourd Wine differ only in form, not in quality. After all, what you can control and what suits you best is the best.

The victory of crowdfunding belongs not to one person but to a group of people with a shared vision. They invested their energy in a relaxed and enjoyable endeavor during a certain period, building a brand.

Related extended reading (copy links to open in browser):

Jingzhi's first crowdfunded baijiu "Crystal Gourd" seeks godparents http://www.hdb.com/party/3nxg?h_share_uid=&hdb_from=WXShare

Offline crowdfunding is not as simple as you think http://m.toutiao.com/i6190565087913837057/?

How to identify supporters from offline crowdfunding participants http://toutiao.com/i6190567119433875969/?

Where does traffic for liquor product crowdfunding come from? http://toutiao.com/i6194948110629536257/?tt

Commentary: Liquor crowdfunding needs brand endorsement http://toutiao.com/i6192768230043861506/?tt

Ouyang Qianli:

Researcher in the liquor industry, independent media person, columnist for Jianiang.com, expert author for Yio.com, and contributing writer for multiple media outlets including New Food, Huaxia Wine News, China Liquor Industry, National Famous Liquor Review, Food New Observation, Liquor Industry Home, and Baijiu Distributor Academy. Currently managing Crystal Gourd Wine. Weibo @欧阳千里, WeChat zuiwengqianli.

Teacher Fang Gang's comments:

Determine a product (mostly virtual production, OEM).
Use various methods to drive traffic.
Determine partners and set crowdfunding game rules and pricing system.
Partners drive traffic...

Characteristics:

Low threshold: Regardless of identity, status, profession, age, or gender, anyone with ideas and creativity can initiate a project.
Diversity: Crowdfunding directions are diverse; project categories on domestic crowdfunding sites include design, technology, music, film, food, comics, publishing, games, photography, etc.
Reliance on the masses: Supporters are usually ordinary grassroots people, not companies, enterprises, or venture capitalists.
Emphasis on creativity: Initiators must first present their creativity (designs, finished products, plans, etc.) to a demonstrable level to pass platform review, not just a concept or an idea, but something operable.

-END-